Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
4.13B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.36%.
Starting with 4.13B and growing at -0.36%
for 5 years, we estimate Free Cash Flow will be
4.06B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 562.32M.
We will project this out 5 year(s) with a growth rate
of -0.54%.
Estimated Diluted Shares Outstanding: 547.3M.
Step 3: Project Future Stock Price
Using a price ratio of 8.37, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.06B ÷ 547.3M) × 8.37 =
$62
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.05.
Projected over 5 years with a growth rate of
0.58%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.47208782290767.
Step 5: Discount the Projected Stock Price
Projected stock price: $62.
Including dividends, total future value: $77.47.
Discounted at 10% per
year over 5 years → Fair Value:
$48.
